Insurance

What is a Term?

Term

[turm]

noun

1.

The Term is the length of time a specific insurance Policy is effective. This feature is most commonly found in life insurance, where the Policy is only good for a specific length of time, or “term” of a person’s life.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Should I Buy or Lease an Auto?

Should I Buy or Lease an Auto?

This calculator compares the financial impact of leasing versus buying an automobile.

Did You Know This Fact About Older Vehicles?

Did You Know This Fact About Older Vehicles?

Did you know you have coverage options on older vehicles?

Understanding Extended Care

Understanding Extended Care

Understanding the types of extended care services—and what those services could cost—may be critical.